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People & Mining

People & Mining. Continuously Balancing & Increasingly Challenging. Introduction Lessons Learned. 1) Stakeholder Engagement 2) Financial Discipline. Introduction Our perspective. Fair Share Continuously Balancing Increasingly Challenging. Community Web 2.0 era. Community Shared values.

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People & Mining

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  1. People & Mining Continuously Balancing & Increasingly Challenging

  2. IntroductionLessons Learned 1) Stakeholder Engagement 2) Financial Discipline

  3. IntroductionOur perspective Fair Share Continuously Balancing Increasingly Challenging

  4. CommunityWeb 2.0 era

  5. CommunityShared values • Cost of Conga: • USD 5 B project halted; • Water • Doña Maxima AcuñaChaupe • Independent system to review • environmental impact assessments • Social License

  6. CommunityConflict

  7. CommunitySocial License to Operate Corporate Social Responsibility No formal Agreement Dynamic “…Permission is like dating. You don't start by asking for the sale at first impression. You earn the right, over time, bit by bit..”

  8. GovernmentResource Nationalism • Cost of Resource Nationalism: • Multi Billion Dollar • Forms of Resource Nationalism: • Beneficiation • Government Ownership • Taxes/Royalties • FDI & Resource Nationalism: • Rule of law; • Accountability; • Transparency; • Integrity;

  9. GovernmentJudicial/Regulatory activism • Cost of MalkuKhota*: • USD 16 M Development Stage; • Support from 43-46 of indigenous groups; *http://www.northernminer.com/news/bolivian-govt-seizing-malku-khota/1001553854/?&er=NA

  10. GovernmentCompliance National Instrument 43-101

  11. GovernmentCSR & GRI Government of Canada International CSR performance guidelines Canadian companies: International Finance Corporation Performance Standards; The Voluntary Principles on Security and Human Rights; and The Global Reporting Initiative . The government will work with the GRI and stakeholders to develop GRI supplements for junior mining companies. http://www.miningfacts.org/communities/what-is-corporate-social-responsibility/#sthash.yZfAfEYl.dpuf

  12. InvestorsGovernance • Cost for BumiPlc: • Shares price plunged 69%;

  13. InvestorsReputation Loss: 3,000 Alaskan jobs $ 541 M Investment

  14. EmployeesEmpowerment Management Team

  15. EmployeesGovernance • Cost of Marikana: • FDI in SA; • PMG production; • Workers;

  16. Investment ModelTriple Bottom Line • Why? • Equator Principles Adoption: • > 80 financial institutions; • > 35 countries; and • > 70% of Project Finance debt in emerging markets. • IFC Performance Standards: • 184 member countries • Global Reporting Initiative: • > 4,000 organizations; • In 60 countries;

  17. Investment ModelStock Exchange & Exploration

  18. Stone Capital ResourcesOur Principles

  19. Stone Capital ResourcesOur Investment Criteria

  20. Stone Capital ResourcesOur Project Stages Current Operations Mine Construction & Production Decision Point Advanced Projects Economic Studies (PEA, PFS, FS) Decision Point Target Testing Drilling & Ressource Delineation Decision Point Target Delineation Drill Target Generation Decision Point Generative > 1 million hectare of prospective land

  21. Stone Capital ResourcesOur Entry Process Screening Step 1 Evaluation Step 2 Review Step 3 Due Diligence Step 4 Investment Step 5 LOI | Termsheet | Full Legal & Operational Due Diligence prior to Investment | Inspect site and evaluate current conditions: i)Environmental impacts / community receptors, ii) Review existing EHS plans, iii) Benchmark current conditions with IFC and government requirements. Finding alignment with Key People, Goals, Expectations Meet with Management Team to assess any existing EHS and/or other project plans in order to determine actual Scope of Work. • Capital call | Enter into agreement | Tax & Legal structuring | Investment • Introduction Management Team; • Check for right fit based on investment criteria

  22. Stone Capital ResourcesOur Monitoring Assist in Environmental & Social Impact Assessment. Amend Company’s corporate EHS plan/program to address risks and requirements of the particular project. Train personnel on EHS program; Develop performance metrics; Conduct periodic audits of the site program; Develop and monitor implementation of corrective actions; and Implement continuous improvement loop & management of change processes.

  23. Stone Capital ResourcesContact Egbert Hennen Stephanie Ashton hennen@stonecapitalfund.comstephanie@stonecapitalfund.com Gideon Blaauw Eric Roth gideon@stonecapitalfund.comeric@stonecapitalfund.com @Stonecapital

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